Facebook acquires this startup

Business
| Aug. 12, 2017, 12:11 p.m.

San Francisco, Aug 12: In a bid to build on its Augmented Reality (AR) ambitions, Facebook has acquired German computer vision startup Fayteq, which is known for its video-editing technology that makes it possible to add or remove objects from existing videos.

Facebook has confirmed the acquisition but did not share any additional information on its plans, Variety reported on Saturday.
The social network major can use the technology for object tracking in live videos as part of its AR efforts and also for applying digital effects to captured videos.

Fayteq had been selling plug-ins for video editors like 'Adobe After Effects' that allowed video-editors to track objects in videos and then add or remove objects with help of the tracking data.

The company on Friday told its customers that its products and services are no longer available for purchase, the report added.

Earlier this week, Facebook rolled out "Watch" -- a video platform for creators and publishers which will be available to a limited group of people in the US on mobile, desktop, laptop and TV apps.